Seoul, Korea
Real Estate in Seoul, Korea
Last updated on Jun 05, 2023
Summary: The average cost of a nice 2 bedroom home in Seoul, Korea is around $400,000 USD. These properties typically include modern amenities such as air conditioning, central heating, and a balcony. A nice 3 bedroom home in Seoul is around $500,000 USD. These properties typically include modern amenities such as air conditioning, central heating, and a balcony. Foreigners are allowed to own property in Seoul, but there are restrictions on the amount of land they can own. For example, foreigners are not allowed to own more than 4,000 square meters of land. When searching for a home to buy in Seoul, an expat should consider their budget, desired location, and amenities. It is also important to research the local real estate market and consult with a real estate agent. The most desirable neighborhoods in Seoul include Gangnam, Apgujeong, Cheongdam, and Seocho. These areas are known for their high-end shopping, dining, and entertainment options.
How do I find a place to live in Seoul?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Seoul is to use online resources such as real estate websites. These websites allow you to search for properties in specific areas of Seoul, and they often provide detailed information about the properties, such as the size, amenities, and rental prices. Additionally, you can use online forums and social media groups to connect with people who are already living in Seoul and can provide advice and recommendations about the best places to live. Finally, you can also contact local real estate agents who can help you find a place to live that meets your needs," remarked one foreigner who made the move to Seoul.
"I lived with my in-laws for a few months, which was a great load-off. Then scouted out places near work. After a few weeks of looking on my own I brought in my boss to negotiate the fees--and he did a GREAT job. The place is about a 10 minute walk through the (safe) park to work, if brand new and less than I'd have paid downtown back home. Definately take a local to negotiate if at all possible," explained one person living in Seoul, Korea.
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About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
